Get Approved at The Lowest Rate
Traditional mortgage requirements in Rancho Mirage, CA can often be challenging, especially for self-employed individuals or those with non-traditional income sources. A Bank Statement Home Loan offers a flexible and convenient alternative, making homeownership more accessible for those who might not fit the standard loan criteria.
A Bank Statement Home Loan is designed for individuals who can demonstrate their ability to repay the loan through their bank statements rather than traditional income documentation such as W-2s or tax returns. This loan program in Rancho Mirage, CA is ideal for self-employed borrowers, freelancers, contractors, and small business owners who have a steady income but may not have the conventional paperwork to prove it.
Use your bank statements (usually 12 to 24 months) to verify income in Rancho Mirage, CA instead of traditional documents like tax returns. This flexibility accommodates various income types, including irregular or seasonal earnings.
Secure financing for a wide range of loan amounts in Rancho Mirage, CA, making it easier to purchase your dream home or refinance your existing mortgage.
Enjoy the benefits of competitive down payment options, ensuring you can invest in your home in Rancho Mirage, CA without excessive upfront costs.
Unlike some conventional loans, our Bank Statement Home Loan in Rancho Mirage, CA may not require PMI, potentially reducing your monthly payments.
Benefit from customized loan terms that suit your financial situation and long-term homeownership goals.
To qualify for a Bank Statement Home Loan, you need to meet the following criteria:
Ideal for individuals with self-employment income or other non-traditional income sources.
Provide 12 to 24 months of personal or business bank statements in Rancho Mirage, CA to verify income.
A good credit score is typically required, with specific minimums varying based on the loan amount and other factors.
Ability to make a competitive down payment in Rancho Mirage, CA, typically ranging from 10% to 20% of the purchase price.
Horizon Lending Services is dedicated to providing tailored mortgage solutions that meet your unique needs. Our experienced team understands the challenges of securing a loan with non-traditional income and is committed to helping you navigate the process with ease. We offer personalized service, competitive rates, and a seamless application process in Rancho Mirage, CA to ensure you achieve your homeownership dreams.
Ready to explore the benefits of a Bank Statement Home Loan in Rancho Mirage, CA? Contact Horizon Lending Services today to learn more about how this flexible loan option can help you purchase or refinance your home. Our knowledgeable professionals are here to guide you through every step of the process, ensuring a smooth and successful experience.
Discover how Horizon Lending Services can make homeownership a reality with our Bank Statement Home Loan program.
One of the key benefits of a 12-month bank statement loan in Rancho Mirage, California is the flexibility it offers to self-employed individuals or those with non-traditional income sources. This type of loan allows applicants to use bank statements rather than tax returns to verify income, making it easier for freelancers, business owners, and independent contractors to qualify for a mortgage. Demographics in Rancho Mirage include a mix of retirees, working professionals, and vacationers. The city's median age is around 66 years old, with a majority of residents being affluent and well-educated. Rancho Mirage is known for its luxury lifestyle, high-end shopping, and world-class golf courses, making it an attractive location for those seeking a resort-style living experience. In terms of the housing market, Rancho Mirage offers a range of real estate options from upscale single-family homes to luxurious gated communities and exclusive estates. The market is competitive, with a high demand for premium properties and a median home price above the national average. The 12-month bank statement loan provides an opportunity for buyers to secure financing without the traditional income documentation requirements. Main attractions in Rancho Mirage include the Annenberg Estate at Sunnylands, a historic landmark known for its stunning gardens and cultural events. The city is also home to The River at Rancho Mirage, a popular shopping and entertainment complex, as well as numerous fine dining establishments and outdoor recreational activities.
Benefits of 12-Month Bank Statement Loan
